At first glance they look strong… Shares of JPMorgan are higher (now flat) after releasing earnings.Revenue of $26.1 billion came in handily ahead of $24.444 billion estimates.
EPS of $1.12 are surpassing the estimate of $1.00.
Said CEO Jamie Dimon: “Solid performance in the quarter and for the year reflected good results across most of our businesses, which benefited from strong client relationships and continued investments for growth. Credit trends in our credit card and wholesale businesses continued to improve. In our mortgage business, while charge-offs and delinquencies have improved, credit costs still remain at abnormally high levels and continue to be a significant drag on our returns.”
Not surprisingly, however, credit losses across the company’s divisions were down across the board.
The company will hold a call at 9:00 AM. Expect questions about the dividend and the foreclosure situation then.
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